Medidata Becomes First Life Sciences Company to Integrate UK Mandated Health Costing Data into Its Financial Management Portfolio
Incorporating the UK integrated Costing Tool (iCT) pricing into Medidata Grants Manager is expected to amplify UK budget precision by up to 80%
London – 11 Feb., 2025 – Medidata, a Dassault Systèmes brand and leading provider of clinical trial solutions to the life sciences industry, has integrated data from the UK interactive Costing Tool (iCT), hosted by the National Institute for Health and Care Research (NIHR), into Medidata Grants Manager, creating a first-of-its-kind offering in the life sciences space. This will consolidate study budgeting with consistent costs, coding, and processes.
“The ability for clinical trial teams to efficiently develop grant budgets and administer site negotiations is a crucial function of a trial,” said Meghan Harrington, vice president, clinical financial management, Medidata. “Incorporating the UK iCT into Grants Manager streamlines the study start up process and improves budget precision by up to 80%.”
The UK approach for commercial study costing and contracting relies on a standardized budget template with specific codes and costs to ensure efficient budget preparation. The manual transfer of data from the UK iCT system into budgeting applications creates inefficiencies, including delays and duplication of efforts that increase the risk of errors. Integrating UK iCT data directly into Grants Manager overcomes these challenges by eliminating the need for manual data entry, significantly reducing preparation time and supporting data consistency across platforms.
“Our overarching mission as an organization is to advance the nation’s health through groundbreaking research, and with Medidata’s support, we are proudly positioning the UK as a global leader in this endeavor,” said Laura Bousfield, national research delivery director, NIHR. “This Medidata solution empowers us to improve UK budget accuracy, creating a process that is more systematic and reliable. This empowers research sites, organizations, and sponsors to conduct impactful studies and accelerate the development of life-changing medicines.”
Medidata has worked closely with the NIHR using insights to enhance Medidata’s grant lifecycle services. Through relationships with NIHR and active participation on both the National Contract Value Review Advisory Board and UK Commercial Costing Reference Group, Medidata continues to amplify its Grants Manager platform while contributing to industry-wide breakthroughs.
Grants Manager is part of Medidata Clinical Trial Financial Manager, for more information visit here.
About Medidata
Medidata is powering smarter treatments and healthier people through digital solutions to support clinical trials. Celebrating 25 years of ground-breaking technological innovation across more than 35,000 trials and 10 million patients, Medidata offers industry-leading expertise, analytics-powered insights, and the largest patient-level historical clinical trial data set in the world. More than 1 million registered users across approximately 2,300 customers trust Medidata’s seamless, end-to-end platform to improve patient experiences, accelerate clinical breakthroughs, and bring therapies to market faster. A Dassault Systèmes brand (Euronext Paris: FR0014003TT8, DSY.PA), Medidata is headquartered in New York City and has been recognized as a Leader by Everest Group and IDC. Discover more at www.medidata.com and follow us @Medidata.
About Dassault Systèmes
Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens. With Dassault Systèmes’ 3DEXPERIENCE platform, 350,000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact. For more information, visit: www.3ds.com
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